Market Readiness Grant (MRA) For Business Expansion Guide

Key Note

What’s the MRA Grant in Singapore About?
Recommended MRA Grant Application Routes for Businesses
Reasons to Apply for the MRA Grant in Singapore
How to Do the MRA Grant Calculation?
Who Are The SME Centre?
Find Out How Much is Your MRA Grant!
Eligibility of the MRA Grant in Singapore
Your Questions, Answered
MRA Grant Articles
Why Choose Us as Your Preferred MRA Service Provider

From MRA consultancy, quotation, preparation of pre-application documents to setting up your company overseas, receive end-to-end support from Asia’s top corporate service provider for your successful business expansion into your desired markets.

Enjoy up to 50% subsidy with the MRA grant today.

What’s the MRA Grant in Singapore About?

Introducing the MRA (Market Readiness Assistance) grant, your ticket to turbocharging your business’s international success! Designed exclusively for vibrant Singapore-based small and medium-sized enterprises (SMEs) like yours, the MRA grant is the ultimate boost you’ve been waiting for. It’s time to spread your wings and conquer new horizons! With the MRA grant by your side, you’ll unlock a world of possibilities, propelling your business towards global recognition and unrivaled competitiveness.

Get ready to explore new markets, create a buzz around your brand, safeguard your intellectual property, and establish a strong foothold in overseas territories. Buckle up for an exhilarating journey filled with thrilling market assessments, dynamic marketing strategies, and game-changing partnerships. Say goodbye to financial constraints and hello to an array of resources, empowering you to skyrocket your growth and seize every golden opportunity that awaits you in the global marketplace. The MRA grant is your business’s pass to port to limitless potential. Get set, soar high, and make your mark on the world stage today!

– UP TO 50% OF ELIGIBLE COSTS COVERED –

Overseas Market Promotion

Capped at S$20,000

Overseas Business Development

Capped at S$50,000

Overseas Market Set-up

Capped at S$30,000

The MRA grant is available to apply now till 31 Mar 2025. Each application is limited to one activity per overseas market. A new market is defined as any country outside Singapore where the company has not generated S$100,000 in overseas sales in each of the last 3 preceding years.

Recommended MRA Grant Application Routes for Businesses

Here are the 3 routes that you can take and how Paul Hype Page can support your MRA grant application. Each route can be claimed under MRA supportable activities for certain activities – speak to us today to find out what activities are supported.

Route 1 Introducing your brand in a trade fair or plan your own brand event

Here are some insights and how we can support setting up your company in the target market:

MRA grant component: Overseas Market Promotion (up to S$20,000)
Objective is to generate brand awareness among target audience
Recommended for B2C companies with actual products to sell for brand events
- How can PHP support?
  - Event planning from strategy, design, logistics to actual execution
  - Curation of marketing and event materials to drive footfall to the event
  - Final report for MRA grant claim submission
Recommended for B2B companies to showcase their brand via trade fairs
- How can PHP support?
  - Application of trade fairs
  - Liaising with trade fair vendors
  - Organising itinerary from Singapore to target location
  - Preparing of local marketing content & materials to drive footfall to your booth
  - Preparing of booth design and production of marketing materials
  - Final report for MRA grant claim submission

Route 2 Tapping on in-market experts to promote and grow your brand through business development activities

Here are some insights and how we can support your overseas business development activities by promoting and growing your brand via in-market experts:

MRA grant component: Overseas Business Development (up to S$50,000)
Objective is to establish a local presence by meeting a network of partners and/or clients and setting the foundation for actual market setup in the future
Recommended for B2B companies who are looking for distributors to sell their products, partners, franchisors, and end-clients.
Two options for SMEs: do you prefer to do your business development in-house (overseas market presence) or to outsource (business matching and in-market business development)?
Business matching VS in-market business development
- Both are outsourced services by third-party vendors
- Business matching only facilitates the linkage between your business to potential key audiences that you wish to target
- In-market business development means you have a local staff from the outsourced BD vendor to assist with all BD and marketing activities
How can PHP support via business matching?
- Identify your target audience and prepare outreach strategy
- Reach out to selected audience
- Plan for meetings (face-to-face or virtually) and itineraries
- Hosting your audience at our offices if available
- Oversee all communications between parties
- Final MRA grant report for claim submission
How can PHP support via in-market business development?
- Assign a local staff under PHP to oversee all your BD activities
- Product knowledge training hours by MRA applicant
- Develop communications and marketing strategy for lead generation
- Develop go-to-market strategy
- Execute marketing efforts
- Quarterly review of BD efforts
- Final MRA grant report for claims submission

Route 3 Setting Up Your Own Company in the Target Market

Here are some insights and how we can support setting up your company in the target market:

MRA grant component: Overseas market set-up (up to S$30,000)
Objective is to have full control of your business and establish an overseas physical presence to drive revenue
Recommended for SMEs who already have some business in the market or upcoming projects in the market
Work visa is required if you plan to enter the target market often and or plan to stay in the country for an extended period of time
How can PHP support?
- Consultancy for market set-up
- Company registration with local authorities
- Business license applications
- Preparation of company legal documents
- Tax consultancy & registration of corporate tax
- Payroll & accounting system setup
- HR consulting
- Financial forecast (5-year)
- Financial analysis
- Final MRA grant report for claim submission

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Reasons to Apply for the MRA Grant in Singapore

We’ve successfully applied for the MRA grant for multiple SMEs across various industries. There are some common reasons why our MRA grant clients apply for the grant:

Reduce costs for operations, manpower & overheads
New & upcoming projects in target country
Demand for products & services
Expand consumer base
Tax incentives
Manufacturing: Malaysia, Indonesia & Vietnam
Trading: Malaysia, Indonesia & Vietnam
IT & Tech: Malaysia & Vietnam
Hospitality: Indonesia & Malaysia
Retail: Indonesia, Malaysia & Australia
Education: Indonesia & Malaysia
Marketing: Thailand & Malaysia
Consulting: Hong Kong

Industry & Country Mapping for MRA Grant (Based on our experiences)
Manufacturing	Malaysia, Indonesia & Vietnam
Trading	Malaysia, Indonesia & Vietnam
IT & Tech	Malaysia & Vietnam
Hospitality	Indonesia & Malaysia
Retail	Indonesia, Malaysia & Australia
Education	Indonesia & Malaysia
Marketing	Thailand & Malaysia
Consulting	Hong Kong

The most common route based on our experience is that most companies prefer to tap on the overseas business development as the first step of the MRA grant.

How to Do the MRA Grant Calculation?

Here is a quick breakdown of the calculation for overseas market set-up:

SERVICES WORTH*	$43,000
LESS: MRA GRANT	$21,500
TOTAL COST TO BUSINESS	$21,500

Assuming the services for market set-up is worth S$43,000 and the government provides the maximum support of 50%, which is capped at S$21,500, the cost to your business will be the difference between the 2 figures. This stands at S$21,500.

TIP: It is important to discuss with your chosen MRA consultant on the items that you would require and whether it is covered by the grant.

The MRA grant opens doors to networking opportunities, trade fairs, and industry events, where you can showcase your products and services to a global audience. Connect with key players, forge fruitful alliances, and gain invaluable exposure that could catapult your business to the next level. The MRA grant acts as a launchpad for your international ambitions, providing the boost you need to soar high and make a lasting impact.

So, what are you waiting for? Embrace the boundless potential of the MRA grant and seize the opportunity to turn your business into a global powerhouse. It’s time to break free from limitations, embrace growth on an international scale, and embark on a thrilling journey of expansion. Apply for the MRA grant today and unlock a world of endless possibilities for your business. Your success story starts here!

Talk to us today to find out how we can be part of your business expansion journey. We have an in-house marketing agency with business development outsourcing, and regional offices around Asia for market set-up.

Who Are The SME Centre?

The Singapore SME Centre (SME centres are available in many locations) are a collaboration between Enterprise Singapore (ESG) and various chambers and associations like the Singapore Chinese Chamber of Commerce & Industry (SCCCI) or the Singapore Indian Chamber of Commerce and Industry (SICCI) etc. to provide advisory to Singapore SMEs in maximising available support for the company’s growth. They are a support and consultation centre for SMEs.

Paul Hype Page works with clients, preferred partners and the teams at SME Centres to develop capabilities for growth, leveraging our network of support in areas of Marketing, Human Resources, Internationalisation, Foreign Direct Investment (FDI) advisories and more.

Find Out How Much is Your MRA Grant!

Talk with us to learn more about your MRA Grant!

Best countries for business expansion from a corporate tax perspective, READ NOW!

Eligibility of the MRA Grant in Singapore

The eligibility criteria for the MRA (Market Readiness Assistance) grant in Singapore are designed to empower small and medium-sized enterprises (SMEs) with the resources they need to embark on their internationalization journey. Not all Singapore companies can apply the MRA grant. Check out the requirements to see if your company is eligible for the grant.

Company is registered and operating in Singapore
At least 30% of local shareholding
Group annual sales turnover does not exceed more than S$100 million OR Company’s group employment size is not more than 200 employees
Below S$100,000 in overseas sales in each of the last 3 preceding years for the new target market
By meeting the above-mentioned eligibility requirements, your business can unlock the gateway to global growth and avail the invaluable support provided by the MRA grant.

Your Questions, Answered

We’ve handpicked the top questions that we get asked a lot when it comes to MRA Grant in Singapore.

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Can I start work before the Letter of Offer?Paul Hype Page2022-11-24T09:50:03+08:00

Can I start work before the Letter of Offer?

No. Once you have started any work (e.g. company name search) before the Letter of Offer, your application will be voided and you will not be able to claim.

Realistically, how much grant can I get?Paul Hype Page2022-10-28T15:59:29+08:00

Realistically, how much grant can I get?

How much grant that your company can get is very dependent on what you submit to ESG. Every application is evaluated on a case by case basis.

In order to get the maximum amount for the grant, you will need a business plan that justifies a well thought out expansion plan.

On top of that, the quotation items must contribute to your expansion plan and within the scope of work. For example, if you are setting up a company and have intellectual property application fees, you must prove you have real substance for the application.

How soon can I get reimbursed for the grant?Paul Hype Page2022-10-28T15:58:42+08:00

How soon can I get reimbursed for the grant?

All claims can only be done once the business expansion project ends and has to be done within 3 months from the project end date.

Companies have to appoint an independent auditor to verify all the expenses and provide the relevant supporting documents. If the company engages an ESG-appointed auditor, you will be granted an audit grant fee, capped at S$500, or 70% of the audit fee.

After the project end date, a typical audit takes 1-2 weeks to complete before you can submit to ESG for claims.

If you use the MRA grant for salary payments of 12 months, you can only claim after 12 months and all salary payments are disbursed.

Can directors claim their salaries under the MRA grant if posted overseas?Paul Hype Page2022-10-28T17:00:39+08:00

Can directors claim their salaries under the MRA grant if posted overseas?

Directors who are registered under ACRA are not eligible for salary claims under MRA grant when posted overseas.

How long does it take to get the grant approved?Paul Hype Page2022-10-28T15:57:07+08:00

How long does it take to get the grant approved?

As of July 2022, ESG is experiencing high volume and will take 3-4 months to respond, sometimes up to 6 months. During this time, ESG will revert with additional questions and your MRA consultant will liaise with the officer.

If you were to appoint Paul Hype Page & Co. as your MRA consultant for market set-up, we typically take 1 week to prepare your business plan. Once that is approved by the company, we will prepare to submit the ESG application via the Business Grants portal.

You can expect to kickstart your project 6 months after.

Is the MRA grant difficult to apply?Paul Hype Page2022-10-28T15:55:38+08:00

Is the MRA grant difficult to apply?

The business plan is the biggest difficulty as they break every part down for detailed analysis. The quotation you receive may hinder the application if your MRA consultant does not have the experience with grant quotations.

Details like phrasing of service items, title of invoices, and identifying whether certain activities are eligible matters in the quotation.

The application process is relatively easy and is done online through the Business Grant Portal.

Can Singapore PRs apply for the MRA grant?Paul Hype Page2022-10-28T15:35:37+08:00

Can Singapore PRs apply for the MRA grant?

Yes, Singapore permanent residents (PRs) are considered locals and are able to apply for the MRA grant, fulfilling the 30% local shareholding.

MRA Grant Articles

Access guides and content on MRA and business expansion below.

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